Alexander_Nikitin
Long

EURGBP. PROBABILITIES.

FX:EURGBP   Euro / British Pound
A unified gartley is about to complete on EURGBP , 30M. The swing identification algorithm is prex(12).

Historically, on this pair and this timeframe (30M), the pattern with this swing identification and with these ratios (B-point is 0.692and C-point is 0.676) has a higher probability for a reversal(uptill 0.522XA) rather than for a continuation (same distance in opposite direction). The exact probability numbers are 60.50% for a reversal and 39.50% for a continuation.

My personal approach is to trade this setup as a reversal. Buy order is placed at 0.786XA. Here 1.05XA is the STOPLOSS and 0.522XA is the TARGET.

This is not a trade recommendation for you. Don't trade this pattern if you didn't do the backtest of the strategy. This is simply a demonstration of my approach. Check the related educational ideas below this post to learn more about how I chose the direction of trading.
Comment: C-point exceeded the 0.786AB. This changes the probabilties: 52.44% for a reversal and 47,56% for a continuation.
Order cancelled: price movement started earlier.:)
This pattern was found by the MPS-v5.5 pattern recognition software: https://mps-trade.com

My YouTube channel: https://www.youtube.com/user/alexniquitos/
EURGBP bullish temporary and bearish longer
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@Johanes, thank you for your comment:)
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you are welcome to leave your comment here.
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